ISPFCU held its 2014 Annual Meeting
Friday, June 27, 2014 at the Northfield Inn in Springfield,
Illinois. Members in attendance were informed of the current
financial state of the institution by the officials and management
staff of the Credit Union.
Vice-Chair Teresa Kettelkamp reported on
the tremendous volunteer base the Credit Union enjoys and the
excellent cooperation and communication between those volunteers and
the staff. Treasurer Boyd Butler reported on the financial results
from 2013 and stressed that although it was a challenging year
ISPFCU remains financially strong and will remain that way into the
future. Chief Executive Officer Megan Becker gave detailed
information in regards to the challenges the organization faced as
well as an overview of key growth and statistical information from
2013. Member of the Election Committee Diane Grottola presented the
2014 election results.
Preceding the conclusion of the Annual
Meeting officials and management staff held an open forum where they
addressed questions and comments from the members in attendance.
- Member inquired about the decrease
in overall dividend expense from 2012 to 2013. Staff responded
that this is due to funds moving from higher earning shares to
lower earning shares, mainly maturing Share Certificates being
reinvested at the current lower dividend rates.
- Member discussed a recent article
which stated that Credit Unions were being pressured to lend to
lower quality borrowers who may not qualify for the loan. Member
inquired if this was an issue at ISPFCU. Staff responded that it
has not been an issue and this may be because of our unique
membership base. Staff expects this would mainly pertain to
community charted institutions.
- Member asked the percentage of
Illinois State Police members versus non-ISP members who were
expelled during the Member Expulsion meeting. After research the
staff determined that 53% of the members expelled were ISP and
ISP Family with another 20% originating from other law
enforcement groups. The remaining 27% were from other non-law
- Member commented on the overall
quality of the staff and facility. Member stated that staff is
always willing and eager to help and they always greet members
with a friendly smile and attitude. Member stated that the
facility always looks well-kept, clean, and inviting.